Press release
Global Energy Storage Market for Renewable Energy Grid Integration to grow at a CAGR of 32.88% during the period 2017-2021
Energy storage system plays a vital role during the integration of renewable energy with a main grid. The excess energy generated from the renewable sources during daytime (as in the case of solar energy) is stored in energy storage units and is fed back into the grid when the demand is high or during frequency variation. The major problem associated with renewable energy integration is the energy imbalance created due to the intermittent nature of the renewables, which makes the grid unstable. Energy storage systems are used to address this concern and facilitate grid flexibility.
Technavios analysts forecast the global energy storage market for renewable energy grid integration to grow at a CAGR of 32.88% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global energy storage market for renewable energy grid integration for 2017-2021. To calculate the market size, the report considers the new installations market and exclude aftermarket.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Energy Storage Market for Renewable Energy Grid Integration 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
ABB
East Penn Manufacturing
LG Chem
Robert Bosch
The AES
Other prominent vendors
Alevo Group
Beacon Power
BYD
Exide Technologies
GENERAL ELECTRIC
Green Charge Networks
Highview Power Storage
NEC ENERGY SOLUTIONS
NRG Energy
Renewable Energy Systems
SAMSUNG SDI
Siemens
Tesla
Market driver
Rise in use of renewable resources
For a full, detailed list, view our report
Market challenge
V2G services for renewable energy integration
For a full, detailed list, view our report
Market trend
Advances in energy storage technology
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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